Official Gazette N ° 41.969: SUNACRIP Providencia by means of which the activities related to the use, importation, commercialization of Digital Mining equipment are regulated
Official Gazette N ° 41.969: SUNACRIP Providencia by means of which the activities related to the use, importation, commercialization of Digital Mining equipment are regulated	
September 23, 2020

In Official Gazette No. 41,969 dated September 21, 2020, the SUNACRIP ruling was published, which regulates the activities related to the use, import, commercialization of Digital Mining equipment, parts and pieces thereof, equipment and conditioning. of spaces to offer the hosting service to Digital Mining equipment, including the manufacture, assembly, repair and improvement of such equipment, as well as to provide the digital mining service in the cloud.

SECTORAL VICE-PRESIDENCY OF ECONOMICS

BOLIVARIAN REPUBLIC OF VENEZUELA SECTORAL VICE-PRESIDENCY OF ECONOMY

NATIONAL SUPERINTENDENCE OF CRYPTOACTIVES AND RELATED ACTIVITIES (SUNACRIP)

Caracas, SEPTEMBER 18, 2020

210 °, 161 ° and 21 ° PROVIDENCIA N ° 084 -2020

JOSELIT RAMÍREZ National Superintendent of Crypto Assets and Activities

Related (SUNACRIP)

In exercise of the attributions conferred by numerals 10 and 12 of article 20 and article 29 of the Constituent Decree on the Integral System of Cryptoassets, the following is issued:

PROVIDENCE THAT REGULATES DIGITAL MINING AND ASSOCIATED PROCESSES

Object

Article 1. The purpose of this Providence is to regulate activities related to the use, import, commercialization of Digital Mining equipment, parts and pieces thereof, equipment and conditioning of spaces to offer the hosting service to Digital Mining equipment, including manufacturing, assembly , repair and improvements of such equipment, as well as providing the digital mining service in the cloud.

Area of ​​application

Article 2. Are subject to this regulation, natural or legal persons, public or private, communal councils, communes and other forms of organization of Popular Power domiciled in the territory of the Bolivarian Republic of Venezuela, who carry out activities inherent to Digital Mining and associated processes , within the framework of the Comprehensive System of Crypto Assets and Related Activities.

Definitions

Article 3. For the purposes of this ruling, the following concepts are understood:

1. Conditioned: Document that develops particular and technical aspects of this provision for its full execution.

2. Digital Farms: Information centers, technically equipped to mine crypto assets.

3. Hash: A cryptographic hash function - usually known as "hash" - is a mathematical algorithm that transforms any arbitrary block of data into a new character string with a length.

4. Accommodation: Service that offers Digital Mining stations to locate the equipment in a safe and ventilated environment, with electricity supply, high-speed internet connection and remote access for its management.

5. Digital Mining: Activity through which new crypto assets are issued and transactions are confirmed in a blockchain network. Process of achieving the word that solves the hash puzzle, within which the consensus operations take place.

6. Digital mining in the cloud: It is a service offered through which the user can obtain crypto assets by renting mining power.

7. Digital cloud: Physical infrastructure capable of storing and processing data in order to offer this computing service through a network, which is usually the internet.

8. National Digital Mining Pool: Pooled miners who agree to share block profits in proportion to the contributed mining hash power. They share a similar operation to cooperatives and it would be in charge of the National Superintendency of Crypto Assets and Related Activities (SUNACRIP).

9. Comprehensive Registry of Services in Cryptoassets (RISEC): Web system maintained by the National Superintendence of Cryptoassets and Related Activities (SUNACRIP), in which the user who performs activities within the scope of this provision is registered.

10. RIM: Comprehensive Registry of Miners, is a web application available to users who are interested in processing and managing any of the operating licenses framed in the activities related to the object of this provision.

Of the Operating Licenses

Article 4. A license will be granted to the user who in the national territory intends to use, import, commercialize their parts and pieces with Digital Mining equipment; equip and condition spaces to offer hosting services to Digital Mining teams; manufacture, assemble, repair and improve such equipment, as well as provide the cloud mining service.

For the purposes of granting the operations license, the user registered, validated and updated in the Comprehensive Registry of Services in Cryptoassets (RISEC), must comply with the requirements and precautions established by the National Superintendence of Cryptoactives and Related Activities ( SUNACRIP) through RIM.

Of the Quality Certificate

Article 5. The quality certificate is the recognition that is granted to the user who manufactures or assembles Digital Mining equipment in the national territory, for complying with high quality standards and the processes required by the National Superintendency of Crypto Assets and Related Activities ( SUNACRIP)

For the purposes of granting the quality certificate, the user registered, validated and updated in the Comprehensive Registry of Services in Cryptoactive (RISEC), must register in the RIM, prior compliance with the requirements and collections established by the National Superintendence of Crypto Assets and Related Activities (SUNACRIP).

Of the Attributes

Article 6. The National Superintendency of Crypto Assets and Related Activities (SUNACRIP), will incorporate the attributes to the Licenses granted, with attention to the aptitude and capacities demonstrated by the user or requesting user and the real needs of the market, taking into consideration the provisions contained in the regulations that is issued for this purpose and in accordance with the provisions of article 23 of the Constituent Decree on the Comprehensive Crypto-Assets System.

Responsible Administration

Article 7. It will be up to the Intendancy of Digital Mining and Associated Processes of the National Superintendency of Crypto Assets and Related Activities (SUNACRIP), to carry out the administrative procedure for receiving and validating the information provided by the applicant, to obtain the different licenses and certificates; It will also coordinate and evaluate the execution of the plans, projects and programs of the city hall and will have the broadest powers within the scope of its powers established by the National Superintendent of Cryptoassets and Related Activities (SUNACRIP).

From the RIM

Article 8. The Comprehensive Registry of Miners (RIM) is created, as a web application run by the Intendancy responsible for the National Superintendency of Crypto Assets and Related Activities (SUNACRIP), made available to users who are interested in processing and managing a framed operating license in the activities related to the object of this ruling.

The RIM will allow the user to select the type of license they wish to obtain, and thus generate the request from this platform providing the data and collections that it requires, make the payment online and have a history of their requests, as well as download the online license once approved.

Licensing Article 90. At the request of the user, the National Superintendency of Crypto Assets and Related Activities (SUNACRIP), will analyze and evaluate the data and collections provided through the RIM, and if appropriate it will grant the license, within a period twenty (20) business days, extendable for twenty (20) more days. The licenses issued only attribute the power to the requesting user and are not transferable.

Of the Renovation

Article 10. The National Superintendency of Crypto Assets and Related Activities (SUNACRIP), will renew the licenses, certificates and other associated processes, to those natural and legal persons, who request it and comply with the updating of the requirements and procedures required by this provision.
The renewal request referred to in this article must be made thirty (30) business days in advance of the expiration date of the respective license, certificate or associated process.

Of the refusal of the request

Article 11. In the event that the license application is denied, the National Superintendency of Crypto Assets and Related Activities (SUNACRIP) must notify the user by means of a motivated act, within a period of no more than twenty (20) business days following the presentation of the application.

The user may attempt, within ten (10) business days following notification of the denial, the appeal for reconsideration before the National Superintendent of Cryptoassets and Related Activities (SUNACRIP), which must decide, by means of a motivated act within a period of no more than fifteen (15) business days, confirming the refusal or revoking it and ordering the issuance of the License, if applicable, thus exhausting the administrative process.

Likewise, the user may go to the contentious-administrative jurisdiction to exercise the pertinent remedies, counted from the notification of the act that declares the appeal without place or from the date on which the administrative silence operates.

Suspension of the License

Article 12. In case of breach of any of the obligations set forth herein, the user who has misused or there are well-founded indications that he has provided false or erroneous information or documentation, the National Superintendency of Cryptoassets and Related Activities (SUNACRIP) may preventively suspend it. in the RIM as well as the RISEC, thus initiating the corresponding administrative procedures, without prejudice to the civil, criminal and administrative responsibilities that may arise.

Revocation of the License or Certificate

Article 13. The National Superintendency of Crypto Assets and Related Activities (SUNACRIP), may revoke the use of the license or cancel the certificate, when there are sufficient indications for it, after exercising the right to defend the user.

Of the Public Price

Article 14. The National Superintendency of Crypto Assets and Related Activities (SUNACRIP), will publish on its website available to the user, the public prices that will govern for each type of license, process or certificate.

Document Conservation

Article 15. The user subject to the application of this ruling is obliged to save and conserve for ten (10) years, the documentation and records, whether physical, electronic or digital, linked to the digital mining activities mentioned in the article 2 of this providence.

Principle of Cooperation

Article 16. The National Superintendency of Crypto Assets and Related Activities (SUNACRIP), the Intendency of Digital Mining and Associated Processes or any other municipality, may require from public or private organizations and entities the information it deems pertinent in order to exercise its powers.

Of the Conditioned

Article 17. The specialized technical aspects that develop the content of this ruling will be regulated through the Conditions issued for this purpose by the National Superintendency of Crypto Assets and Related Activities (SUNACRIP).

From the National Digital Mining Pool

Article 18. The National Digital Mining Pool aims to group digital miners within the national territory and encourage the international digital mining community to be part of the aforementioned pool, in order to accumulate high processing power that speeds up the resolution of blocks.

The National Digital Mining Pool will allow the user to register from its URL on the internet, creating an account that gives them access to its services; in such a way that the pool can identify the connections that come from the internet to its server by opening a communication channel between the miners and the mining server. The pool must:

Receive transactions from the network.

2. Communicate the information to the miners.

3. Control and monitor the work.

4. Send the correctly resolved blocks to the network.

5. Carry out the accounting of resolved blocks and of the work contributed by the miners.

6. Send the corresponding profit to the miners of the pool.

The National Superintendency of Crypto Assets and Related Activities (SUNACRIP), may grant benefits, incentives and propose exonerations to encourage digital miners to join the national pool.

Article 19. The user who engages in digital mining, without being connected to the National Digital Mining Pool, will be subject to the measures, infractions and sanctions, provided in the Constituent Decree on the Comprehensive Cryptoactive System.

From Digital Mining Farms

Article 20. The National Superintendency of Crypto Assets and Related Activities (SUNACRIP) will stimulate and encourage the creation of Digital Mining farms in the national territory, under the technical and professional supervision of its staff.

From Support to Manufacturing and Assembly Projects

Article 21. The user who implements the development of technology through the manufacture and assembly of Digital Mining equipment and related components, in order to promote the creation of mining centers, will have the technical and professional support of the National Superintendence of Crypto Assets and Related Activities (SUNACRIP) and may enjoy the benefits and exemptions that for this purpose are dictated by the National Executive; For this, it will be able to carry out its production processes in the exclusive Petro zones or in any part of the national territory.

Of Project Performance

Article 22. The National Superintendency of Crypto Assets and Related Activities (SUNACRIP), may carry out periodic evaluations in the different projects related to Digital Mining, to measure their performance and provide incentives that may correspond.

commercialization

Article 23. This ruling shall enter into force as of its publication in the Official Gazette of the 13-olive Republic of Venezuela.